Galaxy Surfactants Ltd's consolidated revenue for Q2FY19 came in at Rs685.3cr, up 12.3% yoy. The operating profits for the quarter stood at Rs86.9cr, a rise by 17.6% yoy. The EBITDA margin expanded by ~57bps yoy in Q2FY19. The net profit after tax came in at Rs46.3cr, an increase by 13.5% yoy.
• Gross margin expanded by ~162bps yoy to 29.5% on account of likely improvement in product mix and higher realizations during the quarter. The absolute gross profit increased by 18.9% yoy to Rs202.0cr backed by higher sales volume made by the company. This is despite volatile raw material prices and foreign exchange fluctuations.
• EBITDA margin increased by ~57bps yoy on account of high operating leverage. However, other expenses have increased by 23.5% yoy to Rs73.4cr on likely foreign exchange losses.
• Effective tax rate increased to 33% during Q2FY19 vs. 27% during Q2FY18. This led to a drag in the net profit of the company during the quarter.
• Total borrowing has increased to Rs359cr as on September 30, 2018 vs. Rs291.9cr as on March 31, 2018.
Galaxy Surfactants Ltd is currently trading at Rs. 1,182.80, down by 1.1 points or 0.09% from its previous closing of Rs. 1,183.90 on the BSE.
The scrip opened at Rs. 1,181.05 and has touched a high and low of Rs. 1,185.05 and Rs. 1,170.05 respectively. So far 5,792 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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